Embattled Ecclestone no longer trying to buy Nürburgring

Filed under: Motorsports, Government/Legal, Earnings/Financials, Racing



The nearly year-long process to sell the Nürburgring has reportedly entered its final phases, with the historic track's liquidators closing bids on the track on February 17, according to the Rhein Zeitung newspaper. Interestingly, Formula One boss Bernie Ecclestone is rumored not to be among the bidders, despite previous news to the contrary.

Of course, Ecclestone has had problems of his own in recent months. He was indicted for alleged bribery in July related to buying a portion of Formula One stock back from a German bank and could face up to 10 years in prison. He stepped down from the board of F1 in January to prepare for the trial. Ecclestone said he was interested in buying the Nürburgring shortly after it declared bankruptcy and said he had registered a bid for the course a month ago, according to Crash. It doesn't appear that Ecclestone's bid has been accepted, though.

While the official list of bidders has not been released by the liquidators, Rhein Zeitung is citing an inside source that says Ecclestone is not among them. The newspaper notes there are at least three bidders for the German racetrack - Düsseldorf-based Capricorn, H.I.G. Capital and an unknown US-based investor. It is not immediately clear whether the bidders are attempting to buy the whole track or portions of it. The liquidators would like to have the sale finished by the end of March to be ready for the coming racing season.Embattled Ecclestone no longer trying to buy Nürburgring originally appeared on Autoblog on Mon, 17 Feb 2014 18:01:00 EST. Please see our terms for use of feeds.



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